Adient (NYSE:ADNT) Hits New 52-Week Low – Time to Sell?

Adient (NYSE:ADNT)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $17.68 and last traded at $18.20, with a volume of 31229 shares trading hands. The stock had previously closed at $18.38.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America started coverage on shares of Adient in a report on Wednesday, March 4th. They issued an “underperform” rating and a $22.00 price target for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $31.00 price objective on shares of Adient in a report on Thursday, May 7th. JPMorgan Chase & Co. dropped their target price on shares of Adient from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Citigroup raised shares of Adient from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $33.00 in a research note on Wednesday, April 15th. Finally, Stifel Nicolaus set a $28.00 price target on shares of Adient in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.44.

Adient Price Performance

The company has a 50-day moving average of $21.57 and a 200 day moving average of $21.54. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $1.44 billion, a PE ratio of 25.92, a PEG ratio of 0.35 and a beta of 1.50.

Adient (NYSE:ADNT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Adient had a return on equity of 7.28% and a net margin of 0.39%.The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter last year, the firm posted $0.69 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts predict that Adient will post 2.1 EPS for the current year.

Insider Buying and Selling at Adient

In other news, EVP Heather M. Tiltmann sold 22,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $22.71, for a total value of $499,620.00. Following the transaction, the executive vice president directly owned 110,886 shares of the company’s stock, valued at approximately $2,518,221.06. This trade represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ADNT. Parallel Advisors LLC grew its position in shares of Adient by 19.4% in the first quarter. Parallel Advisors LLC now owns 3,186 shares of the company’s stock valued at $64,000 after purchasing an additional 517 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Adient by 10.3% during the first quarter. PNC Financial Services Group Inc. now owns 7,538 shares of the company’s stock worth $152,000 after buying an additional 705 shares in the last quarter. GAMMA Investing LLC lifted its position in Adient by 17.2% during the fourth quarter. GAMMA Investing LLC now owns 5,199 shares of the company’s stock worth $100,000 after buying an additional 764 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Adient by 9.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,162 shares of the company’s stock worth $193,000 after buying an additional 866 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Adient by 5.2% during the fourth quarter. Corient Private Wealth LLC now owns 18,117 shares of the company’s stock worth $347,000 after buying an additional 899 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

About Adient

Adient plc (NYSE: ADNT) is a leading global supplier of automotive seating and interior components. Established in 2016 through a spin-off from Johnson Controls, the company designs, engineers and manufactures complete seat assemblies, seat structures, mechanisms, foams, textiles, trim and electronics. Adient’s product portfolio spans a wide range of seating solutions, from entry-level designs to luxury and high-performance seats, and extends to interior modules such as door panels and center consoles.

Serving major original equipment manufacturers (OEMs) around the world, Adient works closely with automakers to develop lightweight, comfortable and safety-oriented seating systems.